Page 9 - Unemployment

US applications for unemployment benefits fall to lowest level in 7 months

The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months with labor market seemingly resistent to the higher interest rates put in to place, in part to cool hiring. U.S. applications for jobless claims fell by 13,000 to 216,000 for the week ending Sept. 2, the Labor Department reported Thursday. The four-week moving average of claims, which smooths out some of the week-to-week volatility, fell by 8,500 to 229,250. Jobless claim applications are seen as representative of the number of layoffs in a given week. Overall, 1.68 million people were collecting unemployment benefits the week that ended August 26, about 40,000 fewer than the previous week.

Haryana's unemployment rate 8.8% till March quarter, state assembly told

Unemployment rate in the state was recorded to be 8.8 per cent till March quarter and the government has been taking steps to provide employment to the youth, state assembly was told Tuesday. Nearly 1.69 lakh youths on average were enrolled every year across several employment exchanges in the state during 2015-2022, the government told the state assembly through a written reply. Independent MLA Balraj Kundu had sought to know the total number of youths who had enrolled as unemployed in the district employment offices in the last eight years, unemployment rate in state, and the number of youths who committed suicide due to unemployment since 2014. Based on the quarterly bulletin (January-March 2023) of Periodic Labour Force Survey conducted by the Ministry of Statistics and Programme Implementation, Government of India, the unemployment rate of Haryana is 8.8 percent, the assembly was informed in the reply. According to the report received from employment exchanges, as on July 31 t

86% of employees feel reskilling can help decrease unemployment: Report

Over 86 per cent of respondents feel reskilling and upskilling can reduce unemployment and help employees easily adapt to the evolving demands of the modern work environment, a report said on Saturday. The report by HR solutions provider Genius Consultants revealed that 86 per cent of employees interviewed feel reskilling and upskilling can help in reducing unemployment, however, 8 per cent disagreed saying that it will not have much effect on the current scenario. With the rapid advancement of technology and its integration into various work processes, 88 per cent of employees consider reskilling and upskilling is crucial for professional growth, it added. The report is based on an online survey among 1,148 employees from June 14 to July 25, across sectors including banking and finance, construction and engineering, education, FMCG, hospitality, HR solutions, IT, ITES and BPO, logistics, manufacturing, media among others. The report further revealed that 77 per cent of employees .

China skips update on surging youth unemployment as economic slump deepens

China's government skipped giving an update on a politically sensitive spike in unemployment among young people as official data Tuesday showed an economic slump deepened in July. Meanwhile, the central bank unexpectedly cut a key interest rate in a sign of growing official urgency about shoring up economic growth that fell sharply in the three months ending in June. Youth unemployment is sensitive after a survey in June found a record 21.3 per cent of potential urban workers aged 16 to 24 couldn't find work after an economic rebound following the end of anti-virus controls fizzled out. Publication of unemployment by age group is suspended while the National Bureau of Statistics considers how it measures data, according to a bureau spokesperson, Fu Linghui. Fu said a survey found overall unemployment among urban workers was 5.3 per cent, up 0.1 percentage points from June. The employment situation is generally stable, Fu said at a news conference. Growth in consumer spending ...

SP members stage walkout from UP Assembly over unemployment issue

Members of the Samajwadi Party walked out of the Uttar Pradesh Legislative Assembly on Friday, the fifth day of the Monsoon session, over the issue of unemployment in the state. During the Question Hour in the Vidhan Sabha, the SP members had asked the Minister of Labour and Employment Anil Rajbhar about the major employment schemes being implemented by the Labour Department at present and the number of educated unemployed youth in the state. However, dissatisfied with Rajbhar's response, the SP members staged a walkout and raised anti-government slogans. "Will the government, keeping the above details on the table of the House, tell the total number of educated unemployed -- Inter, BA, MA, Diploma, B.Tech, M.Tech, PhD degree holders -- in the state and how many of these people have been given jobs by the Labour Department in the last two years? If not, why?" asked SP MLA Sangram Yadav. Responding to Yadav's question, Rajbhar said that the work of providing employment opportunities

India's overall unemployment rate falls in July due to farm demand

The total joblessness rate fell to 7.95% in July, from 8.45% in June, according to data released by private forecaster Centre for Monitoring Indian Economy

Congressional Budget Office predicts slower economic, job growth into 2024

The Congressional Budget Office reported Wednesday that economic and job growth so far this year has been stronger than forecast in February, but an updated outlook sees parts of the economy as weakening through 2024. The latest 10-year budget and economic outlook from the nonpartisan office shows how difficult it is to figure out where the United States is going in the wake of the pandemic. Many economists and investors were caught off guard as Federal Reserve interest rate increases, intended to combat high inflation, have not led to mass layoffs and a recession. Rather, growth and hiring have stayed relatively solid. The CBO said it expects rates to continue to rise, as well as slower growth in the gross domestic product for the rest of this year and unemployment reaching 4.7 per cent by the end of 2024. In February, the agency projected that the unemployment rate would jump to 5.1 per cent. It currently stands at 3.6 per cent. The CBO now estimates that rate will end the year a

3-fold rise in unemployment in Haryana under BJP rule: Deepender Hooda

Congress leader Deepender Singh Hooda said the unemployment rate has increased three-fold in Haryana under BJP rule and slammed the Manohar Lal Khattar government over the "appalling" situation. In a reply to a question in Parliament, Union Minister of State for Labour and Employment Rameswar Teli on Thursday said the unemployment rate in Haryana was 2.9 per cent in 2013-14 (when Congress was in power), which increased to 9.0 per cent in 2021-22, the Congress leader said in a statement here. "If we look at the unemployment rate at the national level, it is 4.1 per cent, which is less than half the unemployment rate in Haryana," Deepender Hooda, son of former Haryana Chief Minister Bhupinder Singh Hooda, said. "This appalling situation despite the fact that Haryana is surrounded by the national capital from three sides. Haryana is the only state in the country where the unemployment rate has increased three times during the BJP rule," he said. He claimed Haryana has become number on

US layoffs nearly halve in June as job cuts ease in technology sector

Like its peers, Amazon.com in March had said it would axe another 9,000 roles as a part of its second retrenchment drive, as investors also persuaded the firms to cut costs

Unemployment in Afghanistan rose significantly in past two years: Report

The International Committee of the Red Cross in a report said that the number of unemployed people in Afghanistan has significantly increased in the last two years, Taliban-based TOLO News reported

Haryana tops in inflation, unemployment, crime: Ex-CM Bhupinder Hooda

Reacting to the report, Hooda said inflation in the state has become so alarming that it has crossed the highest level fixed by the Reserve Bank of India (RBI), along with all states

UK unemployment rate down as number in work rises above pre-pandemic level

Official figures show that Britain's unemployment rate has fallen unexpectedly as the number of people in work hit a record high and rose past its pre-pandemic level for the first time. The Office for National Statistics said Tuesday that the jobless rate fell to 3.8% in the three months to April, from 3.9% in the previous quarter. Most economists were expecting the rate to edge up to 4%. As the unemployment rate fell, the agency said, the country's employment rate rose to 76% from 75.9%, with the number of people in work at an all-time high of 33.1 million. Darren Morgan, director of economic statistics at the agency, said the biggest driver in recent jobs growth is health and social care, followed by hospitality. The agency also found that wages rose sharply, a development that may cause concern at the Bank of England, which is widely expected to raise interest rates once again next week.

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Unemployment among urban youth down in Q4FY23 but still elevated at 17.3%

The unemployment rate among the youth in urban India stood at 20.2 per cent in the year-ago period

Naidu sounds poll bugle in AP, promises schemes for women, unemployed youth

Sounding the poll bugle for TDP in Andhra Pradesh, party supremo N Chandrababu Naidu announced a slew of welfare schemes for women, unemployed youth and farmers that would be implemented if the party was voted to power again in the state after the 2024 assembly elections. Rs 1,500 monthly cash allowance to all women above 18 years of age under Bhavishyakthu Guarantee scheme (Guarantee for future), Rs 15,000 per annum for all mothers and free transport for women on APSRTC buses within a district, are some of the major women-centric pledges Naidu made on the concluding day of the 2-day 'Mahanadu' programme of the party on Sunday night. Exuding confidence about Telugu Desam Party returning to power next year, he also promised to provide 20 lakh jobs to youth under Yuva Galam scheme in various government departments, Rs 3,000 monthly unemployment allowance under Yuva Galam Fund and Rs 20,000 annual cash allowance for farmers to cover their agriculture expenditure, a press release ...

On the job: India's poorer states progress in creating employment

National unemployment is expected to grow though

Zimbabwe ranked world's most miserable country; here's where India stands

Unemployment was the leading source of unhappiness in the United States, which ranked 134th on Steve Hanke's Annual Misery Index list

US unemployment claims tumbled last week after fraud-inflated jump

Some economists have been wary about drawing strong conclusions from the data amid reports that fraudulent claims have been behind the recent upward trend in filings

China recovery faces pressure after April activity weak, unemployment rises

Chinese leaders face pressure to shore up a slowing economic recovery and generate jobs after consumer spending and other activity in April were weaker than expected and a survey found 1 in 5 young workers in cities was unemployed. Retail sales accelerated following the end of anti-virus restrictions in December but were below forecasts, official data showed Tuesday. Factory output edged down compared with March. Chinese economic activity has improved while the US and European economies are cooling after interest rate hikes to extinguish inflation. But consumers, uneasy about possible job losses, are returning to shops and restaurants less quickly than expected. The pace of recovery has slowed sharply, said Larry Hu and Yuxiao Zhang of Macquarie in a report. Growth in retail sales accelerated to 18.4% over last year's depressed level in April, but that was below private sector expectations of up to 35%. Factory output rose 5.6% over a year ago but was off 0.5 percentage points fro

Unemployment rate rises in April

The notable rise in LPR and employment rate in India in the month of April reflects an increase in willingness among people to seek employment